XIN Development, the American arm of Chinese builder Xinyuan Real Estate, is pushing forward with its second major condo project in New York City.
The Beijing-based firm filed plans for a seven-story apartment building at 615 Tenth Avenue, between West 44th and West 45th streets in Hell’s Kitchen. The plans call for 82 apartments across 86,328 square feet of residential space, yielding reasonably sized, 1,052-square-foot average units.
A 19,000-square-foot retail space would fill the ground floor, followed by 14 apartments apiece on the second through sixth floors. The top floor would hold only four large apartments. The filing doesn’t include many details, and no amenities are listed.
Dubbed the “Manhattan Hudson Garden Project” on Xinyuan’s website, the building will stretch across a full block and offer 200 feet of frontage along Tenth Avenue. Marvel Architects will design it.
The condos will still be pricey, but they won’t hit the ultra-luxe price point for Manhattan. John Liang, managing director of the company’s U.S. operations, told Bloomberg that apartments will sell for up to $2,000 a square foot, which means a typical two-bedroom would sell for $1.5 million. Those asking prices are a little less than the $2,775 per square foot average for new construction listings in Manhattan.
XIN’s first project in the city was the Oosten, an expensive condo project that’s nearly finished along the South Williamsburg waterfront. Xinyan picked up 615 Tenth Avenue for $57.5 million earlier this year. The 25,100-square-foot site was home to a gas station, which was partially demolished at the end of last year.
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